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Agenda - 02-25-2025; 7-a - 2025 Orange County Revaluation Presentation
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Agenda - 02-25-2025; 7-a - 2025 Orange County Revaluation Presentation
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2/19/2025 10:27:59 AM
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2/13/2025 4:48:22 PM
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BOCC
Date
2/25/2025
Meeting Type
Business
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Agenda
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7-a
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Agenda for February 25, 2025 BOCC SPECIAL MEETING
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6 <br /> Residential Appraisal <br /> • Residential properties valued by Orange County Appraisal Team <br /> — Each appraiser is certified by the North Carolina Department of <br /> Revenue (NCDOR) <br /> — Must pass required courses & maintain certification with continuing <br /> education <br /> — Must attend NCDOR Sales-Qualifying Training <br /> Each sale in Orange County is reviewed and categorized as <br /> qualified or non-qualified sale <br /> — "Arms Length Transaction" = Qualified Sale <br /> — Purpose is to eliminate sales not indicative of a fair market transaction <br /> — Two years of sales included in sales bank used to shape the values for <br /> the revaluation. <br /> — Sales bank is available on our website. 8,613 sales range from January <br /> 15 2021 through December 31 , 2024. <br /> ORANGE COUNTY <br /> 5 NORTH CAROLINA <br />
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